2022年1月20日

China Life Insurance Su Hengxuan: Life insurance industry will enter a new stage of development

Recently, Su Hengxuan, secretary of the Party committee and president of China Life Insurance Co., Ltd. wrote that China has become the world’s second largest premium income country, and the compensatory development is nearing the end. However, there is still room for improvement in insurance density and insurance depth, and the life insurance industry is still in the primary stage of development. With China’s per capita GDP exceeding 10,000 US dollars, the life insurance industry will enter a new stage of development.

Su Hengxuan thinks, as double cycle new pattern accelerates construction, economy is long-term good, material foundation is abundant, human resource is rich, market space is broad, development tenacity is strong, social overall situation is stable, will create many advantages and conditions for life insurance industry to develop continuously and steadily. The insurance industry must firmly grasp the “14” important strategic opportunity period, active service double cycle, support the integration of Beijing, Tianjin and Hebei, Guangdong, Hong Kong and Macao Greater Bay Area, Yangtze River Economic Zone and other regional development strategies, help the establishment of a large domestic market, which is the starting point and foothold of life insurance industry development.

Su Hengxuan said that facing the future, the life insurance industry still needs to answer the fundamental proposition of who to develop for and who to rely on. Through richer products and better services, its own development is firmly rooted in the promotion of the people’s sense of gain, happiness and security, so as to realize the unity of the value of society, customers, enterprises and employees.

Su Hengxuan says the insurance company must vigorously promote the reform of supply side structural, from the scale orientation to value and scale of organic unity, from the sales lead to sales and service, two-wheel driven by human to human and technology shift, with people’s welcome, cost control, solve the pain points of the products and services, enhance the development of quality.

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